There. These are the hideout stocks. Hey, im always nervous. What do you say . Yeah. Three names. Look for names that have done pretty well over an interesting last month and the three that come to mind for me are cocacola, which is making alltime highs. No triple tops so coke is in the next range. A lot of analyst upgrades into their earnings in a couple of weeks. Home depot which seems to do everything right. Had a big selloff. Coming back now and i think facebook is going to knock the cover off the ball when they report in three weeks so names that have done well despite market volatility, thats where you like to be. Do you like those names, pete . I love growth. I love value, i like all three but im going to add a couple more. Really . Youre exactly right on cocacola. Ive been owning that stock for a couple of years. I think some of the investments outside of the koala world is part of the reason why i like them so much because they needed to do that. They have done that and i think thats part of the reason that the stock is actually moving up. I would throw in apple and google and value. I look at the yields and the cash on the balance sheets. All of that i think for those reasons, those are the names. Ill throw one more that has had a little bit more of a pe multiple on it. Coke and pepsi. You think they can live side by side. I think they can throw the pe for pepsi is extremely high right now. Karen . Doesnt make a difference that the fed is meeting and the doj in terms of what youre holding in your portfolio. Names like google is ones they both like. I like as well. I dont think it matters what the fed does here. Retail, i think the u. S. Consumer is really not going to be affected by a quarter point, one way or another, and i like oak which is a name we talked about before because its a way to play the energyhighyield Energy Collapse without knowing exactly what youre doing. Let them do it. They can do it, and so i think actually theres some volatility that would be good for them so its kind of a hedged portfolio. Okay. Consumers seem to be a big theme on the desk here. You can have it. Sold to all of you. No, no. Not on in this environment and i do think the consumer actually will be impacted by the fed. If you think about this, the consumer is weak already. Look at auto sales. Not doing very well. But if we have a rising dollar and a rate hike again in this environment, ultimately if youre our consumer and work for caterpillar youre not doing so hot. If you sell doughnuts next to the caterpillar plant youre not doing so hot. It is all connect the. The boj and fed matter to me. If hi to buy something ahead of the fed its utilities because i have that dividend. If i had t if you had to . If i had to but i wouldnt. I would stay with my longs. Absolutely. Thats a great play. Right now you have to buy volatility, s p puts, why wouldnt you . The lowest its going to be. When you look out, every time the fed has hyped rates for the next five years you get higher volatility so in this environment, any time volatility gets this high, you buy it. The 200day moving average has bumped up against and at 1860 its failed each time. You do have to protect your portfolio. I would also say, how about target. You dont like to go outside the united states. Target i think is one of those names thats just continued to Brian Cornell has done an unbelievable job and give you a great yield. The insiders bought when they told you it was time to buy this name and this name continues to perform over 80 bucks. Rather buy cocacola. How about both . The impact on that and that would impact coke. It would impact your pepsi. I mean, are you concerned about that . Im concerned about everything. Okay. But i will tell you, cocacola, for example. Look at the way the stock has traded over the last three months. Rising dollar, falling dollar, rising market and falling market. Its done really well so when stocks trade well for potential head winds. Thats a good sign. My one pushback to pete is im with you on google. When that stock went from 800 to 700 in a day. Any concerned a all or is that just a blip . Go ahead, karen. I just thought the environment at the time was so antif. A n. G antif. A. N. G. I think were in a different market. People were going to get cash. So concerned about energy or whatever areas they were looking for. So grabbing for cash. Pushed down apple and google. Googles numbers were fenoam nal and in video is another example. Video is a huge area. Its the beginning of growth for google and facebook. Entering a period where people want to reach for cash. To your point, guy, the stocks you like are the ones that are doing well. Are those the first to be sold . Not necessarily those. More the stocks like apple and google where people feel like they can get back in and have used the stocks as an atm. You saw carl icahn i believe use apple as annitem. Didnt sell apple because he doesnt believe in the store anymore and sold it because he probably needed to raise money for Something Else so apple is a source of Something Else. Do you like gold . Yeah. I mean, its had quite a run, and i would be a little concerned. We still have to break that correlation with the u. S. Dollar so i would be a little concerned about gold at these levels but on the pullback of a buyer. I like silver here. Despite crude falling more than 3 has stocks surged in lateday trade and is this decoupling it . Dennis gartman joins us now. Youve been saying for some time that it would not be the coupling that had existed and you say this is it. Now what . First of all, ive never believed in the coupling of stock prices to crude oil. It has indeed occurred over the past several months, but if you look at crude oil versus stock prices over the course of any protracted period of time, six months, one year, two year, over the course of the past four years, stocks have gone up and crude oil has gone down. The correlation is negative, not positive, and i think that this is a healthy sign today to see stock prices do a little bit better and to see crude oil prices weak, and i think that thats going to continue. The longterm correlation is negative and i think today is just a return to the longterm correlation. Why are we at levels now for wti, dennis, that leads to you say were in economic nirvana . I think that crude is very pleasantly priced at 37. Ive said before on the show that i think we could be 5 either side of 37 for a long period of time into the future. I think lets call it 37 to 42 or 32 to 42 as a big range. I think at 37 consumers are happy because retail gasoline prices will probably remain under 2. At 37 and a reasonable contango you get 42 in the deferred futures. Hedgers, frackers will be they wont be happy about it, but they will produce for that price. I think everybody is hammy, and i think quiet prices for crude oil over the next year or two are the absolute nirvana for stock prices and for the economy in general. With 37 plus or minus 5 on either side, dennis. Yeah. Keep the selfdefeating rally that jeff curry of Goldman Sachs was talking about at bay in terms of low enough to keep excess production off the market, not high enough to get, you know, rigs back in line, frackers back out there producing it at levels from before . I think thats exactly what will happen. The only difference will be that the frackers are learning how through various production capabilities of actually producing more out of their fracked wells than in the past. We had thought there had been expected to be a sharp decline in fracked well production, and youre actually not getting that. They have learned how to get more oil out of fracked wells already so i think either side of 37 is actually is indeed nirvana. Consistency is the hallmark of strong economic growth, and i think thats a very good thing. All right, dennis, thank you. Dennis gartman. Thanks for having me on. All right. Who agrees . Is this nirvana . Are we witnessing nirvana . Didnt even know it . Im not a big nirvana understand what hes saying. Not a big nirvana guy. Crude sold off 3 and ovx closed unchanged which is encouraging if you stay long crude and are bullish. I still think some of these Energy Stocks have gotten a little ahead of themselves. We mentioned specifically schlumberger on friday. Said at 27 times forward earnings it makes no sense. That was down today. I think the crude movement is over to the upside. The fact that the ovx didnt rally today concerns me a little bit but youve got to give it a couple more days to play out. How about you, karen . I agree. Its been almost 50 from 27 to touching near 40. That seems overdone, so some of those stocks that were sort of a little sliver of equity that just exploded, the chesapeakes of the world, you know, that one i wouldnt i wouldnt touch it here. So i think we have to just sit back and watch for a little bit. Its so dangerous. Right. To jump in right now. Yeah. So on crude oil i would argue that perhaps the 45 to 50 rise that weve had may be the reason why the market has sold off a little bit. If we have that negative correlation up at these levels gas prices have started to come up a little bit, albeit they are still very low. We may be past nirvana. Its one day. Its hard to kind of put it all together, but i would just say we would have to have crude oil stay like this for 18 months between 32 and 42 for 18 months before it really filtered into the economy. It really is early to call nirvana. I mean. This has been a very swift move from 26 to 37, and here we sit right now. I think the most important thing is when you look at a day like today. Down 3 , 4 on crude and looking at the wti and look over at chevron and exxon and conoco and the names that have given us the reports of what their plans are, big solid names, they didnt get pushed around the way they had been in the past. Right. So well see if thats a oneday phenomenon or not, but i think a little bit of the readthrough is are we in a new range, and is that range higher and if so, seems like the big guys who have addressed things can sit there for a while and people arent apt to start selling again. They are holding on to see where they will start buying. I thought nirvana would feel different. Much better. Yeah. You and you are not a fan. Right at your college when you were in the quad there. Yes. I bet you used to crank nirvana . Play is on your cello. I played it on my cello, guy. Cello. Up next, moments ago the Investment Fund valueact ceo made some comments about the highend consumer and where hes putting his money to go and leaked potential photos of apples new iphone 7 causing a bit of a curious reaction among apple watchers and do have big implications for the stock. Well explain, and later three major bank stocks have surged 50 off their low and a top technician says theres more room for them to run. Well tell what you they are when fast money returns. [alarm beeps] the intelligent, allnew audi a4 is here. Aint got time to make no apologies. And casuper food . Is that recommend sya real thing . Cedar . Its a great school, but is it the right one for her . Is this really any better than the one you got last year . If we consolidate suppliers, whats the savings there . So should we go with the 467 horsepower . Or is a 423 enough . Good question. You ask a lot of good questions. I think we should move you into our new fund. Sure. Ok. But are you asking enough about how your wealth is managed . Wealth management at charles schwab. Woman man yes. A newspaper . Woman its quaint. Man did you read about this latest cyber attack . Woman yeah, i read it on my watch. Man funny. Woman they took out the whole network. Man they had to hand out pens and paper. Woman yeah. Man could it happen to us . Woman no. Were okay. Man we are . Woman yeah, we brought in some new guys. Man what do they know that we dont . Woman that you cant run a country with pens and paper. Its not just security. Its defense. Bae systems. Welcome back to fast money. Moments ago kelly evans sat down with the c. O. O. 19 billion Investment Fund valueact and spoke of one highend consumer play. Take a listen. The only high quality business that we have found in the last 12 months is rollsroyce which where the stock is down by half, as the earnings come down because they are putting more engines on wing and they lose money on the engine shipment but they are putting in place a 20year recurring revenue stream in the aftermarket so from here to 2020 we think theres 6 billion of incremental market revenues available to rollsroyce and we think that the pricing is rational because really theres only two players now on the market. Want to revise that a little bit because the rolls royce he makes reference to makes airplane engines. Its been a hot sector, but they have been sitting out so they havent gotten a lot of contracts and the stock has consequently gotten killed except valueact went on the board in early march. They are the an tut sis of fast money. They will probably be here when the 20year plan is over. Looks expense i have to me. Im not sure what will get them on track but value act has done a great job. Yeah. In terms of some of the other large holdings, microsoft. Microsoft has been great. Yeah. That actually happened overnight almost. Valeant is an interesting one, too. 15 million shears of valeant and adobe, 21st century fox, 24 million. You talked about hideout and microsoft is a great example. This company has been going absolutely perfect the way they have been moving themselves in the cloud and exactly where he came from. Thats a direction they are moving and still trades an incredible multiple and have growth all be in the cloud which becomes a bigger portion and you get the yield. Did valeant ever tried at a level where you thought it was a value stock . Not yet. I mean, can you make an argument right here its value but you can also make a better argument that the headline risk associated with it is to good to trade from a side and whats new on the list is adobe which is a ridiculously volatile stock. A stock that goes up seemingly up and down ten minutes and did report on the 17th and if you catch a break on adobe and it sells off on that report like youve seen now for the last three years, you buy any weakness in adbe. Obviously for a faster money trade i think microsoft is interesting right here because you have it close to the 50 breakout level which is now your support level. You get a dividend and it actually has done pretty well so it has moment mum behind it so for me if you want a fashion money trade buy it at 50. Air suits off. Come on for the big boy. Just has a little window patch on it. Selective coming off the suit. Catch the entire interview right now on cnbc pro and hear what he thinks about American Express and valeant and up next drugs and pot is the next pot. Yes, you heard that right. Gw pharmaceuticals skyrocketing more than 120 following positive results of its cannabisbased drug which reduced seizures in chirp. Take a listen to what was said about the drug earlier today on power lunch. This is a momentous event for our company and for this product which is the most important clinical event in our companys history. It not only reinforces the potential for the drug in the fold of epilepsy but validates the potential of cannabinoid. And he talks about the cbc, the substance derived from the marijuana plant and also talked in the interview on meg on power lunch with the other applications for cbd and other drugs for other diseases like multiple sclerosis. Ms, yeah. They have an incredible pipeline. Thats the interesting thing about a company like this and this brings you back to the old days. I first started on the trading floors, companies were waiting for that stock to get to market. They get to phase three and they fail and in this particular case they are getting to phase three and theres a chance to get approval. Thats why everybody was after this stock and when you are looking at different areas they are focused on,ensy could be a big market and multiple sclerosis, of course, could be as well and cancer so they really are in the right spot. Phase one, phase two, phase three in multiple different areas right now. Very, very interesting. I dont think this stock is overpriced based upon what they have got in the pipeline right now. Still has to get to market though. Right. I mean, this does this prove that you need to do your homework . You cant say im not going to invest in biotech because the political overhang is too much. If youre buying ibb or xbi which are the two biotech etfs then i think the political overhang is too much and that youre making a sector call. In this one particular case though, if you know this company very well like it sounds like pete does, im not making any comment particularly on what pete knows, im just saying that in this particular case you actually can make a lot of money show how would i trade this . Between 80 and 90 today. Threat trade for a week or so. This is going to be a long runway on this one. As long as it holds above 80ish, i think youre okay. Thats a crap shoot. Short covering here. Pete may be right. I dont know. Up 120 . Clearly, nobody knew it well enough friday. Right. To know that this is going to happen. Not that we havent seen the prices before. This was a 1130 stock this time last year. So to petes point it isnt ridiculously expensive. It did trade 10 million shares to that that i wouldnt chase. Still ahead, feeling left out of the recent rally. No need to fear. Three stocks ready to play catchup in one of the most beaten down sectors this year. Well give you the names. Im melissa lee and youre watching cnbc, first in business worldwide. Meantime, here what else is coming up on fast. Thats what Deutsche Bank says will happen to the worldful get gets too hawkish by a top investor will tell you how to fedproof your entire portfolio. Plus. Did you see that . It very well could be the first images of the iphone 7, and its generating a curious investor reaction. Well explain what it could mean for apple stock when fast money returns. Manior welcome back to fast money. Leaked images of what potentially could be the new iphone 7 indicate a slew of new design features from apple. Cnbcs josh lipton is in San Francisco with more on this. Josh . Well, melissa, 9 00 to 5 00 mac which published the photo says they had a case case that looks very much like the 6 and 6 tszs are curved backs and it does not look to confirm a hole with headphone jacks which would confirm rumors that apple is going to drop it in fever of blue tooth. Even though the headphone jack is really thin. Its the thickest piece of the phone today and by dropping it you can actually make the phone even thinner and as weve seen apples prime objective. To put the maximum amounts of features and functionality into the smallest and thinnest form factor that they possibly can, which they feel can give them an advantage in the marketplace. If consumers still want to use the headphone jack they already have then they could sell a dongle allowing connection to the phone. More importantly though, additional images leaked yesterday now seem to show that the camera has changed for the ipho